Newmont Foundation awards GH¢410,000 in scholarships

Newmont Ahafo Development Foundation (NADeF), has offered a total of 951 scholarships worth GH¢410,300.36 to students in the Asutifi and Tano North Districts in the Brong Ahafo Region.

Three hundred and fifty-two (352) students in tertiary and 599 in second cycle institutions have benefited from the scholarship package since 2009/2010 and 2010/2011 academic year.

The beneficiaries come from Kenyasi No. 1 and Kenyasi 2, Ntotroso, Gyedu, Wamahinso, Yamfo, Terchire, Susaunso, Afrisipakrom and Adrobaa, which are host communities of Newmont Ghana’s Ahafo Mine.

For this academic year, GH¢171,204.50 has been disbursed to the 545 beneficiaries, made up 336 males and 179 females.

Mr Joseph Danso, Community Development Superintendent of Newmont Ghana Gold Limited, made this in a statement issued in Accra on Thursday.

He said: “One of the legacies we want to leave in Ahafo even after the life of the mine is a strong human resource base.

“We hope these students on scholarship will apply the knowledge they acquire to support the development of their communities in diverse ways,” he said.

Mr Danso said the scholarship component is only one of many areas of development of NADeF.

Lawrencia Manu Boampong, a student from Kenyasi, who is pursuing a Bachelor of Education Degree in Accounting and Economics under the NADeF scholarship, promised to make the best of the opportunity.

“I am determined to learn very hard. They (Newmont) are catering for my education, so I don’t have to disappoint them,” she said.

Mr Francis Amoako, a 48-year old trained teacher who completed his last academic year reading BSc, Banking and Finance at Kwame Nkrumah University of Science and Technology with funds from the NADeF scholarship, said the scheme is a source of hope for future generations in the area.

“Newmont has helped us a lot…This will go a long way to help us develop our human resource base… especially for the young ones,” Mr Amoako said.

The fund has accrued $4.7million as at the second quarter of 2010.

The beneficiary communities have allocated 24 per cent of the funds to human resource development, whereas 23 per cent have been channeled for infrastructure and 18 per cent for social amenities.

The rest have been dedicated to the enhancement of natural resources, cultural heritage and sports, as well as economic empowerment.

The fund is a product of the Ahafo Social Responsibility Agreement between Newmont and the chiefs and people of host communities of the Ahafo Mine, signed in 2008, under which Newmont sets aside $1 of every ounce of gold and one percent (1%) of its annual net profit since the company started production in 2006.

Source: GNA